Nio cooperates with Santander and enables financing

The Chinese electric car manufacturer NIO has announced a strategic partnership with Santander Consumer Finance (Santander). Together, they aim to offer various "one-stop" solutions ranging from credit analysis to customized payment options. "The partnership with Santander is about providing a range of tailored options to make transitioning to one of our electric vehicles simple and affordable," says Ralph Kranz, General Manager of NIO Germany. The cooperation is also driven by feedback from potential NIO users who, in addition to the initially proposed subscription model for the region, favor a range of financing and ownership options.

"We have listened and responded with solutions to make the switch as affordable and attractive as possible," explains Kranz.

Together, they aim to implement digital solutions to streamline the financing process with a range of individually tailored options such as personal loans, installment purchases, and leasing offers. Germany will be the first country where these attractive financing packages will be offered. Other countries are set to follow.

"As one of Europe's largest mobility financiers, Santander Consumer Finance is focused on supporting our customers and helping our partners increase their sales capacities," emphasizes Harry Swayne, Global Account Director at Santander Consumer Finance.

The top limousine NIO ET7 from the Chinese manufacturer is thus available in a financing offer at an effective annual interest rate of 2.99%. Additionally, they offer free utilization of the so-called Power Swap Stations for the entire electric vehicle fleet until the end of 2023. The full-service package is expanded with the "Battery-as-a-Service" offer. This is also free for the EL7 Premium SUV and the ET7 limousine until the end of 2023.